Tether Advisor: U.S. Spot Bitcoin ETF Approval Could Create Trillions of Dollars in Value

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Cointime2023/12/06 16:45

By:Cointime

Tether advisor Gabor Gurbacs posted on X platform stating that the approval of a US Bitcoin ETF could create trillions of dollars in value. On November 18, 2004, the SPDR Gold ETF (GLD) was launched and over the next 8 years, the market value of gold increased from about $2 trillion to about $10 trillion. Currently, the market value of Bitcoin is around $750 billion, less than one-third of the market value of gold in 2004. In my opinion, once a US Bitcoin ETF is approved, the price trajectory of Bitcoin may follow the same path as gold from 2004 and the following years, but at a faster pace.

I also believe that the adoption of Bitcoin ETPs will only bring in several billion dollars, but they will not be released all at once. The ETF itself will legitimize the position of Bitcoin in investment portfolios and eliminate its stigma, leading to further adoption of Bitcoin outside of the ETF.

I believe that national states and sovereign wealth funds will directly hold their Bitcoin and ensure the right to mine and their own choice of Bitcoin-based capital markets.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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